The fourth edition of Essential Digital Skills (EDS) research has launched this November. Ipsos was commissioned by Lloyds Banking Group to research the digital capability of the UK adult population, across a range of skill areas. This research is reported alongside the Consumer Digital Index, which measures the digital and financial lives of the UK population.
By now, UK Financial Service (FS) providers should have their houses in order regarding the compliance of existing products and services to Consumer Duty outcomes. But what about new products and services travelling through the innovation pipeline? Is there a plan for baking Consumer Duty into their design phase?
A positive reputation can unlock value across a business’ external stakeholder relationships. Whether engaging policymakers and regulators, consumers, the media, or wider business partners, meeting the Consumer Duty will be a key requirement for businesses to build and maintain positive sentiment among these stakeholder groups.
With Consumer Duty in full force firms will be expected to show they have embedded the outcomes of the Duty in their culture, presenting a challenge and an opportunity.